Giga-tronics Receives $4.9 Million Order for High Performance YIG Tuned Filter Products and Provides Update for the Second Quarter FY 2018
GIGA-TRONICS INC (GIGA)
US:NASDAQ Investor Relations:
investor.gigatronics.com
Company Research
Source: GlobeNewswire
DUBLIN, Calif., Oct. 05, 2017 (GLOBE NEWSWIRE) -- Giga-tronics Incorporated (NASDAQ:GIGA) announced today that it has received an additional $4.9 million order extending ongoing production of its high performance RADAR filters for a major aerospace company. The Company expects to begin initial shipments of the new order during the fourth quarter of fiscal 2018 and complete the bulk of the new order shipments over the succeeding 9 to 12 month period. Suresh Nair, the Company's Co-CEO stated, “We are pleased to continue to supply and service our customer needs in the high performance RADAR filter marketplace as they continue to upgrade their aircraft. As the sole source supplier of certain components within the high performance RADAR arena, we expect to continue our recent progress, addressing a market exceeding $30 million over the next few years.” The Company is also providing guidance on the second quarter of fiscal 2018, which ended on September 30, 2017. Net sales for the se
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